Ophthalmology Diagnostics and Surgical Devices Market is valued approximately at USD 60.49 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 3.5% over the forecast period 2019-2026.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
The ophthalmic devices are referred to that medical equipment which are designed for diagnosis, surgical, and vision correction purposes etc. The ophthalmic devices are gaining higher demand and importance in the healthcare sector due to increasing growth in ophthalmic diseases such as glaucoma, cataract and other vision related issues across the globe to provide efficient treatment and diagnosis to such diseases. Ophthalmic diseases are having higher possibilities of occurring in geriatric populations, therefore rapid growth in geriatric population across the globe is expected to drive the growth of market over the forecast years.
For instance: as per the statistics published in the World Population Aging, by the United States government, the global growth in geriatric population that is 60 years or over were accounts for 962 million in 2017 which is doubled from 1980 when there were 382 million older persons globally. Also, it is expected that such figure is expected to double again by 2050 and is projected to reach nearly 2.1 million. In Addition, Technological Advancements in Ophthalmic Devices is also the factor expected to accelerate the growth of market over the forthcoming period. However, risk associated with ophthalmic procedures along with poor primary healthcare infrastructure in developing and under-developed countries are the factors hampering the market growth.
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The regional analysis of global Ophthalmology Diagnostics and Surgical Devices market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the due to the rapid technological advancement in ophthalmic devices in the region.
Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rise in growth in geriatric population across the region would create lucrative growth prospects for the Ophthalmology Diagnostics and Surgical Devices market across Asia-Pacific region.
Major market player included in this report are:
Johnson & Johnson
Abbott Medical Optics
Bausch & Lomb, Inc.
VisionCare Ophthalmic Technologies, Inc.
Nidek Co. Ltd.
Essilor International S.A.
Ziemer Ophthalmic Systems AG
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product type:
Vision Care Devices
Healthcare Service Providers
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Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Ophthalmology Diagnostics and Surgical Devices Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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